True Colors Ltd Approves Joint Venture for Paper Products

True Colors Ltd announced that its Board of Directors has approved the formation of a Joint Venture Company (JV Company) with identified partners. The JV will focus on exploring business opportunities in the manufacturing, processing, coating, converting, and marketing of paper, specialty paper, and allied paper-based products. The board meeting, held on August 17, 2026, also approved the appointment of M/s. Dali Shah & Associates as Internal Auditor, M/s. B H Kevadiya & Co. as Cost Auditor, and M/s. ALAP & Co. LLP as Secretarial Auditor for the financial year 2026-27 and beyond. The JV company is proposed to be named 'True Colors Advance Materials Private Limited', subject to availability.